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Volodin reveals the bankruptcy of Ukraine once Europe’s Bread Basket

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Ukraine is a bankrupt state. It spends more than half of its own income on debt servicing, said State Duma Speaker Vyacheslav Volodin.

‘Today, Kyiv spends more than half of its own income, 57.9% on servicing debts on loans proffered by EU and US banking houses. Therefore, the state, at the expense of its already impoverished citizens ~ those who cannot flee the catastrophe ~ has to take out new loans. 

Ukraine is a bankrupt state. The Kyiv regime is trying to hush it up. But the problem is obvious. Aided by Brussels and Washington DC Zelensky has deprived the citizens of Ukraine of their future, driving the country into debt bondage,’ the statement said.

According to him, the events that took place in February 2014 led to the fact that Ukraine completely lost its sovereignty. Almost half (40%) of its budget is formed from foreign credits and loans. Next year the share of this financing will increase to 58%,’ Volodin wrote.

He stressed that Ukraine is not capable of independently providing for spending obligations to citizens: salaries and benefits, pensions, solving other social issues.

At the end of August, the head of the tax committee of the Verkhovna Rada of Ukraine, Daniil Getmantsev, said that in the first half of the year, the country’s public debt increased from $97.96 billion to $105.39 billion, as a result, it increased from 49 to 68% of GDP. He suggested that by the end of the year, public debt could increase even more – up to 86% of GDP.

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